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Implementing Price Changes In Competitive Markets

Implementing Price Changes In Competitive Markets

Developing and implementing an overall pricing strategy is a challenging task for every business firm, but doing so in uncertain economic times is even more of a challenge. What factors should be considered by a firm in implementing price changes? What intra-organizational roadblocks exist to the implementation price changes? How can they be over come? Who are the enemies and who are your friends in implementing price changes in your firm? What strategies, tools, and methods can be used to effectively implement a price change within the firm?

Making price changes stick in the external market place is even more difficult. Customers, buyers, distributors, competitors, and economic forces can prevent a firm from implementing prices changes and making them stick. Customers often want a lower price. Distributors want to make last minute price deals. Competitors want to gain market share. Changing economic conditions often force changes without any warning. What can a company do to counter these external price changing forces? How can a company avoid price wars in the market place? How can a company prevent loss of market share?

This hard hitting course will provide the pricer with effective price changing strategies.

Duration: 269 minutes

Attendees will learn:

  • Help a firm develop pricing strategies that maximize profits

  • Assist a firm in understanding how to use value-added to prevent price erosion

  • Provide insight in how to use discounts and rebates effectively to hold price

  • Address how to use product/service bundling strategies to implement price changes effectively

  • Help a firm determine the organizational roadblocks to effective pricing

  • Assist a firm in developing successful programs to overcome the internal roadblocks to effective pricing

  • Assist a firm in how to develop a pricing committee for effective pricing strategy development

  • Help a firm understand how to effectively raise prices and minimize customer and management “pushback”

  • Show how to develop effective proactive and reactive pricing strategies in competitive markets

  • Help a firm develop pricing metrics to measure the success of an effective pricing program

Richard Lancioni, Ph.D., CPP

Chair Department of Marketing, Temple University, Fox School of Business and Management

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